This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following is an example of a how much decision? A) The Zhous have demolished their ... (Read 13 times)

robinn137

  • Hero Member
  • *****
  • Posts: 544
on: Jun 29, 2018
Which of the following is an example of a how much decision?
 
  A) The Zhous have demolished their old home and are debating whether to build a ranch-style house or a Craftsman home.
  B) The Pleasantville movie theatre is open only in the evenings. The theatre's manager is debating whether to add daily matinee shows.
  C) You're planning to hold a graduation party and must decide between having your party catered or having a pot-luck.
  D) Chelsea has withdrawn from the swim team to take a full-time job.

Question 2

Name three determinants of elasticity identified in the text. Explain how each one affects the responsiveness of demand.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

yeungji

  • Sr. Member
  • ****
  • Posts: 319
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

(1) Availability of substitutes. Where fewer substitutes are available, demand will tend to be more inelastic. (2) The importance of being unimportant. Where an item represents a smaller portion of a total budget, demand will tend to be more inelastic. (3) The time dimension. The greater the time available to adjust behavior, the more elastic demand tends to be.


robinn137

  • Member
  • Posts: 544
Reply 2 on: Jun 29, 2018
Excellent

nguyenhoanhat

  • Member
  • Posts: 332
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Decision Making Decision Making
When the United States gets stuck over a controversial issue—usually something a divided Congress ca When the United States gets stuck over a controversial issue—usually something a divided Congress ca
A Lexical Decision Task A Lexical Decision Task
Example of a choice board used in studies of decision making. This one includes four factors for ... Example of a choice board used in studies of decision making. This one includes four factors for ...
Ethical Decision-Making Model Ethical Decision-Making Model
Respirator decision logic based on the EPA method. It is very important to know when to use supplied ... Respirator decision logic based on the EPA method. It is very important to know when to use supplied ...
Video: Haustral churning, Gastrocolic reflex and mass peristalsis & Defecation

For a complete list of videos, visit our video library